Bitdeer Technologies Group has signed a lease agreement with the Monroe County Port Authority to secure an additional 570 megawatts (MW) of power capacity. This expansion brings Bitdeer’s total global capacity to 2.5 gigawatts (GW). Bitdeer Expands Power Capacity With New Partnership in Ohio Bitdeer, a Nasdaq-listed company, has leased land at the Hannibal Industrial […]
Bitcoin News
Port Finance Raises a $5.3m Strategic Round To Offer Fixed Rate Lending on Solana
Port Finance, the Solana-based lending protocol with the vision of bringing a whole suite of interest rate products to DeFi users, has raised .3M in its latest strategic funding round.
The round is led by Alameda Research with participation from Spartan Group, Brevan Howard, and A41. Port Finance’s list of existing investors also includes Jump Capital, Solana Foundation, GSR, and Defi Alliance.
Port Finance was the first to launch a variable rate lending product on Solana’s mainnet in July 2021. The platform now supports 13 different assets from the Solana, Ethereum, Terra and Bitcoin network and previously reached a total value of over 0M in assets locked on the platform.
With the latest round of funding, Port Finance will extend its current product offering to fixed-rate lending and interest rate swaps. The latest Port Finance product, Sundial, came live last week and was the first to offer fixed-rate lending on the Solana blockchain starting with USDC. “We are excited to see Port Finance build a fixed-rate lending product leveraging the Serum orderbook”, says Alameda Research.
‘’Fixed-rate lending is a huge untapped opportunity in DeFi. In traditional finance, fixed-rate lending is 25 times that of variable rate lending. We expect to see fixed-rate lending grow exponentially in DeFi,’’ says GW, Co-Founder of Port Finance. “Institutional investors have expressed interest in borrowing USD against their token holdings at a fixed interest rate. Port Finance expects to work with them closely as the product matures.”
Port Finance has secured over 30 integrations and partnerships since its launch. It will continue to work with developers within the Solana ecosystem and support projects integrating with Port Finance via the newly set up Port Ecosystem Grant. Over the coming months, Port Finance will also be rolling out a governance module with a staking mechanism to further align token holders with the project.
About Port Finance
Port Finance is a decentralized Money Market protocol on Solana, aiming to provide a full suite of lending products including but not limited to variable-rate lending, fixed-rate lending and interest rate swaps. Port Finance’s team brings engineering experience from tech companies like Google, Facebook, and Microsoft, and previously contributed to Solana and Serum. The PORT token is currently traded on FTX, Ascendex, Gate.io, Serum, Raydium and Orca.
PORT Network Creates a Decentralized Marketplace to Meet All the Computational Power Requirements
The advancement in science and technology has created the need for increased computing power in almost all industry segments. Few specialized sectors like pharmaceuticals, AI, 3D image processing, IoT and Deep Learning stand out with their need for high bandwidth, which is technologically as well as economically restrictive for any single entity to own. On the other hand, personal computing devices are no longer a novelty and almost everyone in today’s world has in their possession excess computing power than they are going to need.
PORT Network is a blockchain project that is working on facilitating optimal use of available computing resources. It offers computational power on tap, by enabling individuals and businesses to share their unused bandwidth. The PORT Network is the first of its kind dApp to bring together Cloud and Volunteer computing, along with a sound token-driven economic model for the benefit of all participants.
As a participant in the PORT Network, individuals and businesses can monetize their computers by selling the idle CPU power and storage space against remuneration in PORT tokens. The native utility of the PORT Network, PORT can be redeemed within the ecosystem or traded against other cryptocurrencies on leading exchanges.
Not the First, but Definitely Different
The concept of sharing computational power is not new as there are many fine examples of such systems. Among the most successful ones is the Berkeley Open Infrastructure for Network Computing (BOINC) – an initiative by the University of California, Berkeley which has enabled the community to contribute the processing power towards research in various fields including the SETI project. However, such projects miss the incentive models that could only be made possible by the use of blockchain technology. PORT Network fits right in this gap with a robust P2P ecosystem that is open for anyone to participate and earn.
Apart from providing access to affordable, on-demand computational power, PORT Network is also environment friendly. It promotes optimal use of existing computing resources to significantly reduce the carbon footprint and e-waste generation, which are otherwise unavoidable.
Explaining the benefits of PORT Network, CEO Janusz Siuda said, “Sustainable energy is the future. The PORT Network utilizes unused computing power. This gives consumers both the extra power when needed but also helps to create an environment-friendly ecosystem.”
The Ongoing PORT Token sale
PORT Network is preparing to launch its software later this year. The project is currently holding a token sale, offering 50 million i.e., 50% of the maximum 100 million PORT to the crypto community. The token sale will be held until Q4 2021 or till the hard cap of .5 million is met, whichever is earlier. Soon, PORT will be listed on leading centralized and decentralized exchanges to make it easily accessible to the community.
Learn more about PORT Network at – www.portnetwork.io
Samsung, Dutch Bank, Rotterdam Port Send Blockchain-Tracked Shipment
n As a proof-of-concept, a shipping container has completed its transcontinental, blockchain-automated shipment from South Korea to the Netherlandsn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Port Authority of Valencia Joins Maersk, IBM Blockchain Project for Shipping
n The Port Authority of Valencia, Spain has joined IBM and Maersks blockchain ecosystem designed to improve supply chains and shipping efficiencyn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Samsung Partners with Dutch Bank and Port to Pilot Blockchain Solution for Shipping Industry
Samsung has announced a partnership with Dutch bank ABN AMRO and Rotterdam Port Authority to build a shipping and logistics business based on distributed ledger technology.
Samsung’s NexLedger to Test Compatibility with R3’s Corda in Pilot Project for Shipping Industry
The South Korean technology giant will be responsible for linking its blockchain platform Nexledger to ABN AMRO’s distributed platform Corda, built with the major consortium R3. The pilot project will aim to simplify transactions with the Rotterdam port, including confirmation of receipt and payment, and real-time sharing of documents, says the announcement.
The project will verify the compatibility between Samsung SDS and ABN AMRO’s blockchain platforms. The latter is specialized in financial transactions and was built by the R3 consortium, which includes some of the world’s largest financial institutions including Barclays, Credit Suisse, Goldman Sachs, JPMorgan, UBS, Citi, Deutsche Bank, Banco Santander, and many more.
Samsung SDS’ distributed ledger platform Nexledger was designed for enterprises and was tested in the logistics field last year by a consortium project of marine logistics. This included the participation of 38 entities, including government, companies, and research institutes.
Kim Hyung-tae, vice president of the logistics division at Samsung SDS, sees the pilot project in partnership with ABN AMRO and the Rotterdam Port as an opportunity for the business relationship between Europe and South Korea as well as one more step for blockchain.
“We have been very interested in the case of logistics blockchain in Korea and Europe which has led to this project. It will be an opportunity to increase the competitiveness of the logistics business and expand the blockchain business globally.”
The pilot project will study the flow of payments, administration, and the physical transportation of containers with the goal of developing a functional and efficient platform for the shipping industry, according to Daphne de Kluis, chief executive of Commercial Banking at ABN AMRO.
“We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitization of paper documentation such as waybills and the financing of handled freight or services. The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers. This will make the logistics chain more transparent and efficient, and millions of euros can be saved in the long term.”
The three companies participating in the project plan to commercialize the blockchain solution for the freight transport industry worldwide.
Featured image from Shutterstock.
The post Samsung Partners with Dutch Bank and Port to Pilot Blockchain Solution for Shipping Industry appeared first on NewsBTC.
Europes Largest Port Partners with Samsung IT Subsidiary to Test Blockchain for Shipping
n The largest port in Europe has partnered with a major Dutch bank and Samsungs IT subsidiary to test blockchain for container shipping from Asia to the EUn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
PwC Australia, Port of Brisbane Unveil Blockchain Supply Chain Pilot
PwC Australia, the Australian Chamber of Commerce and Industry and the Port of Brisbane are trialling a new blockchain trade solution.
CoinDesk
Europe’s Largest Port Launches Blockchain Research Lab
The Dutch port of Rotterdam, the biggest shipping hub in Europe, is opening a research lab devoted to blockchain technology.
CoinDesk
IBM Reveals Blockchain Supply Chain Trial with Singapore Port Operator
A major port operator in Singapore has inked a deal to work with IBM and a regional shipping firm to test a new blockchain-based supply chain network.
BitNewz.net